UBS Investment Bank upgraded the GDR forcasting cost of Globaltrans PLC from $5.2 to $12.6 per piece. The recommendation “buy” remained unchanged. UBS upgraded Globaltrans forecast of financial performance taking into account the new macroeconomic forecast for the Russian Federation and expectations of operational improvement of the company. After revision of EBITDA, Globaltrans was upgraded 19% up to $166 million, $215 million in 2010 (+30%), $291 million in 2011 (+22%). Banc of America Securities – Merrill Lynch upgraded the forecasting cost of GDR Globaltrans Investment PLC from $8.49 to $11.69 per piece confirming the recommendation “buy” for these securities. After the trading ay LSE on 5 November 2009 the closing price of GDR Globaltrans was $8.23 per piece. (USD1= RUB28.8497)
- Moscow: 06:36 14.11.2009
